Prospectus Supplement No. 2 Filed Pursuant to Rule 424(b)(3)
September 30, 1998 Registration No. 333-58155
(to Prospectus dated July 7, 1998)
[GRAPHIC OMITTED]
6,500,000 DEPOSITARY SHARES EACH REPRESENTING 1/20 OF A SHARE OF 7% CUMULATIVE
CONVERTIBLE PREFERRED STOCK, 325,000 SHARES OF 7% CUMULATIVE CONVERTIBLE
PREFERRED STOCK, AND SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION OF, OR
PAYABLE AS DIVIDENDS ON, THE DEPOSITARY SHARES OR THE 7% CUMULATIVE CONVERTIBLE
PREFERRED STOCK
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This Prospectus Supplement supplements information contained in that
certain Prospectus dated July 7, 1998 relating to the potential offer and sale
from time to time by (i) the selling stockholders up to 6,500,000 depositary
shares (the "Depositary Shares") each representing 1/20 of a share of the 7%
Cumulative Convertible Preferred Stock, par value $0.01 per share (the
"Preferred Stock"), liquidation preference $1,000 per share of Preferred Stock
(equivalent to $50 per Depositary Share, the "Liquidation Preference"), of
Omnipoint Corporation (the "Company"), (ii) up to 325,000 shares of Preferred
Stock, and (iii) up to 11,445,123 shares of the Company's Common Stock, $0.01
par value per share (the "Common Stock") issuable upon conversion of, or payable
as dividends on, the Depositary Shares or the Preferred Stock. The Depositary
Shares, the Preferred Stock, and the Common Stock are collectively referred to
as the "Securities." The Securities were initially acquired from the Company by
Donaldson, Lufkin & Jenrette Securities Corporation, BancAmerica Robertson
Stephens, Bear, Stearns & Co., Inc. and Smith Barney, Inc. in May 1998 in
transactions exempt from the registration requirements of the Securities Act of
1933, as amended (the "Securities Act").
This Prospectus Supplement is not complete without, and may not be
delivered or utilized except in connection with, the Prospectus. This
Prospectus Supplement is incorporated by reference into the Prospectus, and all
terms used herein shall have the meaning assigned to them in the Prospectus.
The Common Stock of the Company is traded under the symbol "OMPT."
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SEE "RISK FACTORS" BEGINNING ON PAGE 3 OF THE ACCOMPANYING PROSPECTUS FOR A
DESCRIPTION OF CERTAIN FACTORS THAT SHOULD BE CONSIDERED BY PROSPECTIVE
INVESTORS.
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THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
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The following table supplements the information set forth in the Prospectus
under the heading "Selling Stockholders" with respect to certain selling
stockholders of Depositary Shares and the number of shares beneficially owned by
such holders that may be offered and sold pursuant to the Prospectus, as
supplemented, to add the following number of Depositary Shares with respect to
the following Selling Stockholders:
<TABLE>
<S> <C> <C>
- ------------------------------------------------------ -------------------------- -------------------------
NAME OF SELLING STOCKHOLDER DEPOSITARY SHARES OWNED SHARES OF PREFERRED
AND OFFERED HEREBY STOCK OWNED AND OFFERED
HEREBY
- ------------------------------------------------------ -------------------------- -------------------------
Bear, Stearns & Co., Inc. 45,000 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Alternative Strategies Fund II L.P.Series A5 43,600 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Alternative Strategies Fund II L.P. A5I 2,600 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Alternative Strategies Fund II L.P. A5M 1,200 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Global Convertible Fund Series A1 200 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Global Convertible Fund Series A5 46,400 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Alternative Strategies Fund B3 3,300 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Performance Fund 4,700 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Greyhound 2,000 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Global Convertible Fund B1 2,000 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Global Convertible Fund B2 2,000 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Global Convertible Fund B3 2,000 0
- ------------------------------------------------------ -------------------------- -------------------------
Forest Global Convertible Fund B5 3,000 0
- ------------------------------------------------------ -------------------------- -------------------------
General Motors Employees Domestic Group Pension 25,000 0
- ------------------------------------------------------ -------------------------- -------------------------
Key Asset Management Inc. as Agent for the Victory
Convertible Securities Fund 45,000 0
- ------------------------------------------------------ -------------------------- -------------------------
Tribeca Investments L.L.C. 120,000 0
- ------------------------------------------------------ -------------------------- -------------------------
UBS A.G. - London Branch 120,000 0
- ------------------------------------------------------ -------------------------- -------------------------
TOTAL 468,000 0
- ------------------------------------------------------ -------------------------- -------------------------
</TABLE>
Because the Selling Stockholders listed above and in the Prospectus under
the caption "Selling Stockholders" may, pursuant to the Prospectus, as
supplemented, offer all or some portion of the Depositary Shares, no estimate
can be given as to the amount of Depositary Shares or the underlying Preferred
Stock that will be held by the Selling Stockholders upon termination of any such
sales.
Furthermore, the Selling Stockholders identified in the table set forth in
the Prospectus under the caption "Selling Stockholders" may have sold,
transferred or otherwise disposed of all or a portion of their Depositary Shares
since the date on which they provided the Company with information regarding
their Securities, and the Company has not made any independent inquiries as of
the foregoing.
The Company may from time to time include additional Selling
Securityholders and information about such Selling Securityholders' plans of
distribution in future supplements to the Prospectus.
Unless otherwise noted, all information provided in this Prospectus
Supplement is as of September 30, 1998.
